©Reuters
December will likely be remembered for Bitcoin (Bitcoin) feigned a breakout above $18,000 but other than that brief overshoot, its trajectory was entirely bearish. In fact, the downtrend currently offering resistance at $18,850 could take the BTC price below $16,000 by mid-January.
Bitcoin/USD price index, 12-hour chart. Source: TradingView
A handful of reasons can explain the negative movement, including those reported Resignation of the accounting firm Mazars Group from the cryptocurrency sector on December 16th. The company previously ran proof-of-reserve auditing services for Binance, KuCoin, and Crypto.com.
Annualized premium for 3-month futures. Source: LaevitasBitcoin 30-day options 25% delta skew: Source: Laevitas
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